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1. Communication
Why no sale? What did prospects say about price and condition? What feedback did other agents offer? Teamwork between seller and agent is key to know how to alter a marketing plan for success. Inattention to a listing can be a factor, but rarely the whole story.
Every seller can boost a property's exposure. Make it easy to show: consider a lockbox, "For Sale" sign where permitted, and showing times convenient to buyers. Also, keep the house in showplace shape; depersonalize furnishings so prospects can see themselves at home, keep large pets at a distance. Remember, the next prospect may be your buyer.
Most important, speak to the agent- they want to hear from you. Real estate agents are a key source when it comes to showing traffic, new-on-the-market competition, changes in the neighbourhood and property condition that affect the property's salability. Also, you will hear from them regularly- the more you work together, the faster the sale will be closed.
2. Price
This is the most common culprit for the lack of a sale. An incorrectly priced house attracts the wrong buyers or worse- none at all.
Market conditions probably have changed since you initially listed your house. Houses may have sold, additional houses may be listed now, loan rates may have moved up or down. A realtor can prepare an up-to-date, competitive market analysis, a review of recently sold houses, and houses currently for sale that are comparable. One little known secret is to set your price below other expired listings and overpriced listings languishing 60-90-120+ days on the market.
With the right analysis, you will know how your house compares to others offered for sale today. Is your price right? Are your terms and financial incentives competitive?
Activity without offers often indicates overpricing. Remember, any house, no matter what condition, will sell for the right price. What price is "right" depends on market conditions, competition and condition.
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Copyright ©2009 Peter Kunz. All rights reserved. |
Royal LePage Partners Realty is an independently owned and operated brokerage. |
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